choolie Posted April 18, 2010 Posted April 18, 2010 Howdy, I am not sure this is the right area for it but I have a few questions. I have some bullion silver coins which I bought about a year ago 12 of them they are 1 ounce Austrian .999 silver philharmonic coins, I now realize that they are very common and uninteresting and I would much rather sell them and use the money to buy a nice interesting coin. I can sell them back to coininvest at around £12each but I was thinking i might do a bit better by listing them as a job lot e-bay I am a was wondering if I can trust the natural arbitrage of e-bay to get around the spot silver price if I start at 99p. And I was starting to worry if there are VAT issues oranything else I need to worry about if i start dealing bullion in this manner.
Chingford Posted April 19, 2010 Posted April 19, 2010 Howdy, I am not sure this is the right area for it but I have a few questions. I have some bullion silver coins which I bought about a year ago 12 of them they are 1 ounce Austrian .999 silver philharmonic coins, I now realize that they are very common and uninteresting and I would much rather sell them and use the money to buy a nice interesting coin. I can sell them back to coininvest at around £12each but I was thinking i might do a bit better by listing them as a job lot e-bay I am a was wondering if I can trust the natural arbitrage of e-bay to get around the spot silver price if I start at 99p. And I was starting to worry if there are VAT issues oranything else I need to worry about if i start dealing bullion in this manner.I have a similar issue with some Silver I have inherited over 5kg of Canadian, American and Royal mint commemorative issues.Spot price is a round £0.30 for .999, and £0.25 for .925, I have looked at the selling patterns for Solid silver modern issues,if you were lucky the coins would make £7-8 each on Ebay, less 10% listing and selling fees, I would go with the buy back at £12.00, probably a third of what was paid for them, but at least it is guaranteed.John
azda Posted April 19, 2010 Posted April 19, 2010 Also, if you guys are looking to sell coins, the forum here does have a FOR SALE THREAD, maybe easier and cheaper than ebay, some people might be interested in your items, who knows.
choolie Posted April 19, 2010 Author Posted April 19, 2010 Ebays fees for coins are i think 16%Really I never knew that.
Chingford Posted April 19, 2010 Posted April 19, 2010 Also, if you guys are looking to sell coins, the forum here does have a FOR SALE THREAD, maybe easier and cheaper than ebay, some people might be interested in your items, who knows.Thanks for the information Azda, I need to sort through, most of the Royal Mint are just worth scrap because of the number issued and tend to be from commonwealth countries rather than UK, but I have noted a few rarer ones like RMPC and Lune dollars from Canada, Early to late 1990s Canadian/USA BU/Proof Commemorative dollars, and several very early Half dollars from America.I'll compile a list and publish when I finally find the timeJohn
choolie Posted April 20, 2010 Author Posted April 20, 2010 Thanks Guys.Ha ha, I just secured £12.44 per coin from coin invest I am have actually made a profit of £10. Not bad eh? should cover the postage anyay.
Chingford Posted April 20, 2010 Posted April 20, 2010 Thanks Guys.Ha ha, I just secured £12.44 per coin from coin invest I am have actually made a profit of £10. Not bad eh? should cover the postage anyay.Might have a look at them myself, that's around £0.40 gramme, 25% better than most Silver buyers are quoting.
Recommended Posts